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Print - 2009-12-19
Shanghai copper regains ground

Shanghai copper regains ground

London copper edged up on Friday, recovering from a 2.4 percent fall in the previous session as the US dollar pulled back from a more than three-month high hit the previous day. A slew of US economic indicators released on Thursday painted a mixed picture
Published 19 Dec, 2009 12:00am
Some top lawyers have not declared their actual income

Some top lawyers have not declared their actual income

The analysis of Income Tax returns filed by some leading lawyers revealed that they have not declared their actual income in their returns. Sources said on Friday that the Federal Board of Revenue (FBR) has checked income tax returns of some top Supreme C
Published 19 Dec, 2009 12:00am
World market price for upland cotton

World market price for upland cotton

The US Agriculture Department set the prevailing world market price for upland cotton at 60.55 cents per lb, effective through December 24. The price is adjusted to US quality and location for Strict Low Middling, 1-1/16 inch upland cotton.
Published 19 Dec, 2009 12:00am
Swiss courts: foreign office not approached by NAB

Swiss courts: foreign office not approached by NAB

National Accountability Bureau (NAB) has not yet approached the Foreign Office to contact the Swiss courts to re-open the cases against the politicians and bureaucrats which were withdrawn under National Reconciliation Ordinance. Sources in the Foreign of
Published 19 Dec, 2009 12:00am
Tokyo rubber futures edge down

Tokyo rubber futures edge down

The most active rubber contract on Tokyo Commodity Exchange ended lower on Friday after a strong yen induced selling from speculators, snapping a four-day rally which had sent prices to their strongest in almost 15 months. TOCOM's rubber contract for May
Published 19 Dec, 2009 12:00am
Swiss courts: foreign office not approached by NAB

Swiss courts: foreign office not approached by NAB

National Accountability Bureau (NAB) has not yet approached the Foreign Office to contact the Swiss courts to re-open the cases against the politicians and bureaucrats which were withdrawn under National Reconciliation Ordinance. Sources in the Foreign of
Published 19 Dec, 2009 12:00am
New York sugar settles near 30-year highs

New York sugar settles near 30-year highs

Raw sugar futures settled near a 30-year high Thursday when a late investor buying spree wiped out the losses caused by a strong dollar, with analysts saying the bullish outlook in the market should drive values up in the days ahead. The March raw sugar c
Published 19 Dec, 2009 12:00am
Rehman, Nusrat, others summoned to courts

Rehman, Nusrat, others summoned to courts

Accountability or anti-corruption courts in Lahore and Karachi issued on Friday summons to over 84 accused for different dates following Supreme Court judgement restoring status quo ante as on October 5 2007. They include Begum Nusrat Bhutto, interior min
Published 19 Dec, 2009 12:00am
US soya lower

US soya lower

US soyabean futures fell to a one-month low on Thursday as a strong dollar, lower crude oil, gold and equities combined to weigh on the market. Good crop weather in South America and prospects for a big soya crop also lending pressure. CBOT January down 3
Published 19 Dec, 2009 12:00am
Rehman, Nusrat, others summoned to courts

Rehman, Nusrat, others summoned to courts

Accountability or anti-corruption courts in Lahore and Karachi issued on Friday summons to over 84 accused for different dates following Supreme Court judgement restoring status quo ante as on October 5 2007. They include Begum Nusrat Bhutto, interior min
Published 19 Dec, 2009 12:00am
Indonesia to hike January palm oil export tax to three percent

Indonesia to hike January palm oil export tax to three percent

Indonesia, the world's top crude palm oil (CPO) producer, may hike the export tax to 3 percent in January from zero now because of higher prices, but the move is unlikely to hit exports given tight global supply. Trade ministry and industry officials meet
Published 19 Dec, 2009 12:00am
'Of course there is no coup'

'Of course there is no coup'

Rumours of a coup sparked by the Defence Minister being barred from leaving the country were dismissed on Friday after briefly causing flutters in financial markets. The prospect of political turmoil comes as the United States is stepping up calls on Paki
Published 19 Dec, 2009 12:00am
Malaysian markets closed for holiday

Malaysian markets closed for holiday

Malaysia's financial and commodity markets are closed on Friday for a public holiday. Trading will resume on Monday, December 21.
Published 19 Dec, 2009 12:00am
'Of course there is no coup'

'Of course there is no coup'

Rumours of a coup sparked by the Defence Minister being barred from leaving the country were dismissed on Friday after briefly causing flutters in financial markets. The prospect of political turmoil comes as the United States is stepping up calls on Paki
Published 19 Dec, 2009 12:00am
Oil ends near $73 in Asia

Oil ends near $73 in Asia

Oil was slightly higher near $73 a barrel on Friday, underpinned by signs of a gradual economic recovery in the United States and the prospect of increased winter demand as a cold snap gripped the US Northeast. A slight fall in the US dollar from a more t
Published 19 Dec, 2009 12:00am
Petition seeks disqualification of beneficiaries

Petition seeks disqualification of beneficiaries

The Supreme Court was requested on Friday to disqualify National Reconciliation Ordinance (NRO) beneficiaries - the parliamentarians and public office-holders - involved in heinous crimes after the examination of their case history.
Published 19 Dec, 2009 12:00am
US gold slides

US gold slides

New York gold futures slid into the close, continuing down to 6-week lows after hours as the dollar extended its advance on the euro, analysts said, adding that improved US economic readings on Thursday affirmed signs of growth suggested by the Federal Re
Published 19 Dec, 2009 12:00am
Petition seeks disqualification of beneficiaries

Petition seeks disqualification of beneficiaries

The Supreme Court was requested on Friday to disqualify National Reconciliation Ordinance (NRO) beneficiaries - the parliamentarians and public office-holders - involved in heinous crimes after the examination of their case history.
Published 19 Dec, 2009 12:00am
Gold prices steady in Asian market

Gold prices steady in Asian market

Gold prices steadied near $1,100 per ounce on Friday after falling 3 percent in the previous session, pressured by the dollar's rise against the euro, which reduced the precious metal's appeal. Spot gold was at $1,101.00 per ounce at 2345 GMT, up 0.3 perc
Published 19 Dec, 2009 12:00am
Prosecutors asked to resuscitate 3577 cases

Prosecutors asked to resuscitate 3577 cases

Sindh Criminal Prosecution Services Department (SCPSD) has asked the Deputy Public Prosecutors (DPPs) of 24 districts of the province to resuscitate the 3577 cases closed under the National Reconciliation Ordinance from October 05, 2007. In this regard, t
Published 19 Dec, 2009 12:00am
Greek financial sector suffers fresh blow

Greek financial sector suffers fresh blow

Greece suffered a fresh blow to its financial standing on Friday when Standard & Poor's downgraded two top banks and warned that the Greek economy was in worse shape than it had thought. The latest move by the ratings agency followed its downgrade late We
Published 19 Dec, 2009 12:00am
Prosecutors asked to resuscitate 3577 cases

Prosecutors asked to resuscitate 3577 cases

Sindh Criminal Prosecution Services Department (SCPSD) has asked the Deputy Public Prosecutors (DPPs) of 24 districts of the province to resuscitate the 3577 cases closed under the National Reconciliation Ordinance from October 05, 2007. In this regard, t
Published 19 Dec, 2009 12:00am
Qatar becomes major shareholder in Volkswagen

Qatar becomes major shareholder in Volkswagen

Qatar has a 17 percent voting stake in Volkswagen and is set to take a seat on Porsche's supervisory board, underlining the more active role Gulf states are playing in the German auto industry. After exercising options in Volkswagen - as was expected by m
Published 19 Dec, 2009 12:00am
Justice Rabbani to head Supreme Court Monitoring Cell

Justice Rabbani to head Supreme Court Monitoring Cell

Chief Justice Iftikhar Muhammad Chaudhry on Friday nominated Justice Ghulam Rabbani as head of the "Supreme Court Monitoring Cell" to keep an eye on the proceedings and progress of the revived cases under the National Accountability Bureau (NAB) in pursua
Published 19 Dec, 2009 12:00am
Saab's road comes to an end after 60 years

Saab's road comes to an end after 60 years

General Motors' announcement on Friday that it will wind down its lossmaking brand Saab Automobile brings an end to the iconic Swedish brand after six decades of car manufacturing. GM said in a statement Friday it had failed to reach an agreement with Dut
Published 19 Dec, 2009 12:00am
Justice Rabbani to head Supreme Court Monitoring Cell

Justice Rabbani to head Supreme Court Monitoring Cell

Chief Justice Iftikhar Muhammad Chaudhry on Friday nominated Justice Ghulam Rabbani as head of the "Supreme Court Monitoring Cell" to keep an eye on the proceedings and progress of the revived cases under the National Accountability Bureau (NAB) in pursua
Published 19 Dec, 2009 12:00am
Chinese banks hide growing credit risks: Fitch

Chinese banks hide growing credit risks: Fitch

Chinese banks are creating a "growing pool of hidden credit risk" through financial moves that shift loans off balance sheets to comply with government capital requirements, Fitch Ratings warned Friday. The ratings agency said in a report the practice cou
Published 19 Dec, 2009 12:00am
WTO warns on protectionism scare-mongering

WTO warns on protectionism scare-mongering

Claims that protectionism is intensifying are adding pressure on governments to close their borders to goods and risk fuelling the very problem they warn about, the World Trade Organisation said on Friday. In its latest survey on trade measures issued on
Published 19 Dec, 2009 12:00am
Opec to leave output targets unchanged: president

Opec to leave output targets unchanged: president

The Organisation of the Petroleum Exporting Countries will keep production targets unchanged at a meeting next week, the group's president Jose Botelho de Vasconcelos told Angolan Radio Ecclesia. With oil around $75 a barrel, several other Opec oil minist
Published 19 Dec, 2009 12:00am
Index loses 43.45 points

Index loses 43.45 points

The Karachi share market on Friday posted negative trend and KSE-100 index lost 43.45 points to close at 9,183.73 points from 9,227.18 points. The index hit 9,258.26 points intra-day high and 9,137.28 points low. The market witnessed low trading and the v
Published 19 Dec, 2009 12:00am
EU farmers' income falls by 12 percent

EU farmers' income falls by 12 percent

Income for farmers in the European Union has fallen by 12.2 percent this year, largely in line with a drop in food prices. The EU said Friday that income fell most in Hungary, by 35.6 percent where the Hungarian forint has slid in value against neighbouri
Published 19 Dec, 2009 12:00am
Index loses 43.45 points

Index loses 43.45 points

The Karachi share market on Friday posted negative trend and KSE-100 index lost 43.45 points to close at 9,183.73 points from 9,227.18 points. The index hit 9,258.26 points intra-day high and 9,137.28 points low. The market witnessed low trading and the v
Published 19 Dec, 2009 12:00am
UK public borrowing hits record high in November

UK public borrowing hits record high in November

Britain's public sector net borrowing hit its highest ever monthly level in November, taking total outstanding net debt to a record 60.2 percent of economic output, official data showed on Friday. However, in a sign that the snowballing deterioration in B
Published 19 Dec, 2009 12:00am
Index loses 43.45 points

Index loses 43.45 points

The Karachi share market on Friday posted negative trend and KSE-100 index lost 43.45 points to close at 9,183.73 points from 9,227.18 points. The index hit 9,258.26 points intra-day high and 9,137.28 points low. The market witnessed low trading and the v
Published 19 Dec, 2009 12:00am
UK public borrowing hits record high in November

UK public borrowing hits record high in November

Britain's public sector net borrowing hit its highest ever monthly level in November, taking total outstanding net debt to a record 60.2 percent of economic output, official data showed on Friday. However, in a sign that the snowballing deterioration in B
Published 19 Dec, 2009 12:00am
ECB, eurozone banks face commercial property risks

ECB, eurozone banks face commercial property risks

Euro area commercial properties are likely to experience falling capital values and rents until economic conditions improve, causing further losses for heavily exposed banks, the European Central Bank (ECB) said on Friday. The largest credit exposures for
Published 19 Dec, 2009 12:00am
Eurozone logs trade surplus

Eurozone logs trade surplus

The eurozone swung to a trade surplus in October from a deficit a year earlier as exports fell less than imports despite a stronger euro exchange rate, likely helping economic growth late in 2009. The seasonally unadjusted trade surplus of the 16-country
Published 19 Dec, 2009 12:00am
Russia's recovery marked by pains

Russia's recovery marked by pains

Russia's unemployment rose to a four-month high in November and retail sales fell on the month after rising slightly in October, indicating that the economic recovery remains uneven and painful, data showed on Friday. On the positive side, Russians had mo
Published 19 Dec, 2009 12:00am
US banks report $5.5 billion trading revenue

US banks report $5.5 billion trading revenue

US commercial banks reported an 11 percent rise in trading revenues for the third quarter, boosted by strong trading flows and a wide, though declining, spread between the level they buy and sell positions, the Office of the Comptroller of the Currency sa
Published 19 Dec, 2009 12:00am
Growth first, budgets second: EU economic chief designate

Growth first, budgets second: EU economic chief designate

Boosting growth and employment in the European Union will be the top priority for the new European Union chief for economic affairs, with sound public finances a second, the Commissioner-designate has said.
Published 19 Dec, 2009 12:00am
Singapore's GIC to keep investments in Citigroup

Singapore's GIC to keep investments in Citigroup

The Government of Singapore Investment Corporation (GIC) said Friday it will keep its stake in Citigroup in a vote of confidence for the US banking giant, whose shares tumbled this week. The Singapore sovereign wealth fund said its holdings in Citigroup h
Published 19 Dec, 2009 12:00am
India's rate talk swirls around central bank, finance minister meet

India's rate talk swirls around central bank, finance minister meet

A meeting of India's central bank Governor Duvvuri Subbarao with Finance Minister Pranab Mukherjee fuelled speculation on Friday that the bank may tighten monetary policy earlier than expected to stem rising prices. The Congress-led government is under pr
Published 19 Dec, 2009 12:00am
French business confidence falters in December

French business confidence falters in December

French company bosses were less confident about their prospects in December, data showed on Friday, adding to signs that the economic recovery is fragile. Business morale fell to 89, national statistics office INSEE said, undershooting expectations for 91
Published 19 Dec, 2009 12:00am
BoJ says won't tolerate zero inflation, let alone deflation

BoJ says won't tolerate zero inflation, let alone deflation

The Bank of Japan said it would not tolerate zero inflation or falling prices and reinforced its commitment to maintain very low interest rates, setting the scene for further easing of monetary policy to fight deflation. The BoJ's most aggressive statemen
Published 19 Dec, 2009 12:00am
Brazil jobless rate falls to lowest since December

Brazil jobless rate falls to lowest since December

Unemployment in Brazil dropped to the lowest level in 11 months, data showed on Friday, as manufacturers and service companies hired more people in response to a brisk recovery in Latin America's largest economy. The jobless rate dipped to 7.4 percent in
Published 19 Dec, 2009 12:00am
Ryanair pulls out of talks for 200 Boeing planes

Ryanair pulls out of talks for 200 Boeing planes

Irish airline Ryanair said it had pulled out of talks to buy 200 aircraft from Boeing and would now trim investment from 2011 to cut costs and free up cash to pay to investors, lifting its shares. The low-cost carrier, close to being Europe's biggest airl
Published 19 Dec, 2009 12:00am
Strikes could bring unhappy new year for Britons

Strikes could bring unhappy new year for Britons

Britain has avoided damaging Christmas strikes among airline staff and postal workers but those and other disputes linger and could make the 2010 election year even more turbulent. A court ruling on Thursday blocked plans by British Airways cabin crew to
Published 19 Dec, 2009 12:00am
Bond and share fees eclipse M&A as bonus rows fester

Bond and share fees eclipse M&A as bonus rows fester

A dizzying recovery in financial markets this year has upended the usual pecking order for fee-making in investment banking and turned the bonuses flowing from those fees into political dynamite. For the first time in at least a decade, bankers advising o
Published 19 Dec, 2009 12:00am
Bond and share fees eclipse M&A as bonus rows fester

Bond and share fees eclipse M&A as bonus rows fester

A dizzying recovery in financial markets this year has upended the usual pecking order for fee-making in investment banking and turned the bonuses flowing from those fees into political dynamite. For the first time in at least a decade, bankers advising o
Published 19 Dec, 2009 12:00am
Brazilian CSN bids $5.6 billion for Portuguese Cimpor

Brazilian CSN bids $5.6 billion for Portuguese Cimpor

Brazilian steelmaker CSN has bid 3.86 billion euro ($5.56 billion) cash for Portuguese cement maker Cimpor, targeting new markets like Africa and eyeing a sport-led domestic construction boom. CSN, or Companhia Siderurgica Nacional, offered 5.75 euros per
Published 19 Dec, 2009 12:00am
Zimbabwe switches into official monthly deflation

Zimbabwe switches into official monthly deflation

Zimbabwe, for years plagued by hyper inflation, has switched narrowly into an absolute price fall on a monthly basis, official data showed on Friday, following adoption of foreign currencies. The central statistics office said that prices in November were
Published 19 Dec, 2009 12:00am
Asian debt spreads widen

Asian debt spreads widen

Asian spreads widened slightly on Friday to come off two month lows, as risk averse investors locked in gains ahead of the year end. A weak end to Wall Street and the strength of the dollar were cited as the primary triggers for the losses in Asian credit
Published 19 Dec, 2009 12:00am
Asian debt spreads widen

Asian debt spreads widen

Asian spreads widened slightly on Friday to come off two month lows, as risk averse investors locked in gains ahead of the year end. A weak end to Wall Street and the strength of the dollar were cited as the primary triggers for the losses in Asian credit
Published 19 Dec, 2009 12:00am
Philippines shares drop

Philippines shares drop

Philippines share prices closed 1.02 percent lower on Friday due to the decline on Wall Street and investors selling off shares just before the end of the year, dealers said. The composite index fell 31.16 points to 3,016.99 while the all-shares index slu
Published 19 Dec, 2009 12:00am
Hong Kong, Chinese shares fall

Hong Kong, Chinese shares fall

Shares in Hong Kong and China fell to three-week closing lows, led by banks and properties, after tough new proposals by banking regulators and Beijing's tighter curbs on buying government land reignited fears about the sectors' outlooks. Hong Kong's benc
Published 19 Dec, 2009 12:00am
Wall Street declines

Wall Street declines

US stocks fell on Thursday as the dollar's rebound spurred a safe-haven trade, cutting demand for riskier assets, while a soft profit outlook from economic bellwether FedEx sank transportation shares. Financial services stocks took a beating after influen
Published 19 Dec, 2009 12:00am
Singapore shares easier

Singapore shares easier

Singapore shares closed 0.38 percent lower Friday in subdued trading ahead of the Christmas holidays, dealers said. The blue chip Straits Times Index (STI) shed 10.68 points to 2,802.59 on volume of 1.27 billion shares worth 1.28 billion Singapore dollars
Published 19 Dec, 2009 12:00am
Treasuries rally

Treasuries rally

US Treasury debt prices rallied on Thursday as stock market losses and nagging concerns over Greece's fiscal situation revived a safety bid for lower-risk securities. Demand for bonds intensified after news of an unexpected rise in US jobless claims rekin
Published 19 Dec, 2009 12:00am
Treasuries rally

Treasuries rally

US Treasury debt prices rallied on Thursday as stock market losses and nagging concerns over Greece's fiscal situation revived a safety bid for lower-risk securities. Demand for bonds intensified after news of an unexpected rise in US jobless claims rekin
Published 19 Dec, 2009 12:00am
New Zealand shares surge

New Zealand shares surge

New Zealand share prices rose 0.99 percent Friday with the focus on selected shares in thin trading, dealers said. The benchmark NZX-50 index gained 31.31 points to 3,154.23 on turnover worth 94.70 million dollars (67.26 million US). There were 45 rises a
Published 19 Dec, 2009 12:00am
Seoul shares slide

Seoul shares slide

Seoul shares slipped on Friday with losses by financial firms including KB Financial weighing on the index amid regulatory worries, but gains in tech exporters including LG Display capped the downside. "A stronger dollar has prompted concerns that dollar-
Published 19 Dec, 2009 12:00am
Tokyo stocks edge down

Tokyo stocks edge down

Japan's Nikkei average fell 0.2 percent on Friday, as the announcement of stricter capital rules led Mizuho Financial and other banks to give back some of this week's hefty gains while metal stocks fell as the dollar's strength hit gold prices. Bank share
Published 19 Dec, 2009 12:00am
Thai stocks end flat

Thai stocks end flat

The Thai stock exchange ended flat Friday in thin trade, an analyst said. The Stock Exchange of Thailand (SET) composite index edged 0.13 points, or 0.02 percent lower to close at 715.68, and the blue chip SET-50 index lost 0.29 points to close at 503.29.
Published 19 Dec, 2009 12:00am
Yuan ends steady against dollar

Yuan ends steady against dollar

The yuan ended flat against the dollar on Friday as the Chinese central bank set the daily mid-point only three pips lower, highlighting a preference to keep the yuan stable despite the dollar holding firm versus a basket of six major currencies in recent
Published 19 Dec, 2009 12:00am
Dollar climbs to 3-1/2-month peak

Dollar climbs to 3-1/2-month peak

The dollar rose to its highest level against the euro in more than three months on Thursday, a day after the Federal Reserve drew attention to the improvement in the US economy and stood by plans to wind down most of its emergency lending by February.
Published 19 Dec, 2009 12:00am
Swissie up but off highs after Pakistan denial

Swissie up but off highs after Pakistan denial

The Swiss franc rose on Friday as investors unwound long euro positions in the approach to the year-end, helped by rumours of a coup in Pakistan that were quickly denied and by stop-loss orders which propelled it up. In turbulence that also sent the dolla
Published 19 Dec, 2009 12:00am
Hong Kong dollar hovers near 9-1/2 month low

Hong Kong dollar hovers near 9-1/2 month low

The Hong Kong dollar clawed back slightly from overnight lows in offshore markets on Friday, but dealers said prices would remain volatile in thin pre-holiday trade. The local currency traded between 7.7559 and 7.7568 on Friday, not far from a 9-1/2 month
Published 19 Dec, 2009 12:00am
Australian dollar off sharply

Australian dollar off sharply

The Australian dollar was under pressure on Friday, falling to a fresh 11-week low against a rallying US dollar as anxious investors pared riskier bets into the year-end. The Aussie was hovering around $0.8890, having shed over two cents so far this week.
Published 19 Dec, 2009 12:00am
Asian currencies remain intact

Asian currencies remain intact

The Philippine peso fell its lowest this month on Friday due the dollar's overnight rally against the euro, while the spread between the currency's onshore and offshore forwards narrowed. Weaker Asian stocks due to investors' concerns over earnings also u
Published 19 Dec, 2009 12:00am
Canadian dollar drops

Canadian dollar drops

Canadian dollar fell to its lowest closing level in about six weeks on Thursday as the US currency was bolstered by the US Federal Reserve's upbeat economic view as well as by some safe-haven flows. Canadian inflation data reinforced expectations that the
Published 19 Dec, 2009 12:00am
India's opposition to replace veteran leader

India's opposition to replace veteran leader

India's Hindu nationalist opposition party was set on Friday to replace its elderly long-serving leader with a 57-year-old woman, relatively young by the country's political standards. Bharatiya Janata Party (BJP) parliamentary leader L.K. Advani, a forme
Published 19 Dec, 2009 12:00am
Heavy snow paralyses transport on Japanese coast

Heavy snow paralyses transport on Japanese coast

Heavy snow Friday in Japan brought traffic to a halt in some areas along the Sea of Japan. A cold air mass caused record snowfalls and record-low temperatures for December in northern Japan, the Meteorological Agency said. Niigata City was hit by 28 centi
Published 19 Dec, 2009 12:00am
Pandemic flu straining Afghan health clinics: WHO

Pandemic flu straining Afghan health clinics: WHO

Afghanistan has seen a 60 percent increase in the number of respiratory ailments this winter, with H1N1 flu adding pressure on a medical system already weakened by the war, the World Health Organisation said on Friday. "The current winter season is of gre
Published 19 Dec, 2009 12:00am
Hundreds demand Papuan independence

Hundreds demand Papuan independence

Hundreds of demonstrators waving banners demanded Papuan independence Friday as they mourned the death of a rebel commander killed in a police raid in the restive Indonesian region. Up to 600 emotional Papuans gathered outside a local parliament building
Published 19 Dec, 2009 12:00am
US spends $23 billion on Afghan contracts so far

US spends $23 billion on Afghan contracts so far

The United States has spent over $23 billion on reconstruction and development contracts in Afghanistan since 2002, and auditors say about $1 billion of this is waste, a US senator said on Thursday. The contract spending is expected to rise with President
Published 19 Dec, 2009 12:00am
US death sentences at three-decade low

US death sentences at three-decade low

US courts will hand down fewer death sentences in 2009 than any year since the Supreme Court reinstated capital punishment in 1976, according to a report released on Friday by the Death Penalty Information Center. The number of US convicts put to death in
Published 19 Dec, 2009 12:00am
15 killed in road crash in India

15 killed in road crash in India

At least 15 people were killed Friday when a bus veered off the road and fell into a river in India's north-eastern state of Meghalaya, a news report said. Police and administrative officials told the IANS news agency that 34 passengers were injured when
Published 19 Dec, 2009 12:00am
Nine killed in Peru landslide

Nine killed in Peru landslide

The toll from a landslide brought on by torrential rains in southern Peru has risen to nine dead and 25 wounded, the prime minister said Thursday, with more heavy rains forecast for the days ahead. The victims died when the rains unleashed a torrent of mu
Published 19 Dec, 2009 12:00am
Twitter hacked by 'Iranian Cyber Army'

Twitter hacked by 'Iranian Cyber Army'

Popular microblogging site Twitter was briefly shut down overnight, its home page replaced with an image claiming the site had been hacked by the "Iranian Cyber Army." The website's official blog acknowledged the disruption but gave no details as to how t
Published 19 Dec, 2009 12:00am
Thieves steal infamous Auschwitz death camp sign

Thieves steal infamous Auschwitz death camp sign

Thieves on Friday stole the infamous Nazi German "Arbeit macht frei" sign from the entrance to the Auschwitz death camp in Poland, police said. The sign, which means "Work Will Set You Free", has become a symbol of the horror of the camp where about 1.1 m
Published 19 Dec, 2009 12:00am
Obama proposes US liaison in North Korea

Obama proposes US liaison in North Korea

US President Barack Obama has proposed setting up a liaison office in North Korea next year in a step to ease tensions between the two rival states, Yonhap news agency said on Friday. The offer was in a letter for leader Kim Jong-il that Obama's first env
Published 19 Dec, 2009 12:00am
World Bank lends $182 million to Sri Lanka for Tamil region

World Bank lends $182 million to Sri Lanka for Tamil region

The World Bank Thursday announced a 182-million-dollar loan to help Sri Lanka assist refugees and rebuild Tamil majority provinces that were ravaged by nearly 40 years of civil war that ended earlier this year. One loan package for 105 million dollars wil
Published 19 Dec, 2009 12:00am
Champions League money up despite downturn

Champions League money up despite downturn

The Champions League generated an estimated economic impact of six billion euros on the European economy over the last 12 months, mainly through increased broadcast revenues and higher UEFA prize money, a study showed on Friday. The report - commissioned
Published 19 Dec, 2009 12:00am
Draw sends Beckham, Mourinho back to old haunts

Draw sends Beckham, Mourinho back to old haunts

David Beckham is set to return to Old Trafford sporting the colours of AC Milan while Jose Mourinho will be plotting a familiar path back to Stamford Bridge after an intriguing Champions League draw on Friday. AC Milan, who have signed Beckham on a short-
Published 19 Dec, 2009 12:00am
Liverpool take on Unirea, as Juventus meet Ajax

Liverpool take on Unirea, as Juventus meet Ajax

Liverpool take on another team knocked out of the Champions League after being drawn against Romania side Unirea Urziceni in the last 32 of the Europa League here on Friday. Rafael Benitez's side finished third in Group E while Unirea were third in Group
Published 19 Dec, 2009 12:00am
Swann bats England back into first Test

Swann bats England back into first Test

Graeme Swann batted England back into contention with a career-best innings of 85 on the third day of the first Test against South Africa at SuperSport Park on Friday. Swann and James Anderson (29) shared a record ninth wicket stand of 106 as England, who
Published 19 Dec, 2009 12:00am
Younus Khan declares availability for Pakistan

Younus Khan declares availability for Pakistan

Former Pakistan captain Younus Khan Friday raised hopes of an international comeback soon, saying he would be available for the team whenever needed. The 32-year-old, who was not considered for the tour of Australia after he did not make himself available
Published 19 Dec, 2009 12:00am
Thailand top medals table

Thailand top medals table

Thailand finished atop the medals table at the Southeast Asian Games Friday, narrowly holding off Vietnam to retain their crown as the region's sporting powerhouse. Thailand, who topped the charts when they hosted the games in 2007, won 86 golds, three mo
Published 19 Dec, 2009 12:00am
Dhoni century gives India upper hand

Dhoni century gives India upper hand

Skipper Mahendra Singh Dhoni struck his sixth century to guide India to a commanding 301 for seven in the second ODI match against Sri Lanka on Friday. Dhoni, who slammed 72 in the opening match which India won by three runs to go 1-0 up in the five-match
Published 19 Dec, 2009 12:00am
'Pakistan to accomplish hat-trick in 11th SAG football'

'Pakistan to accomplish hat-trick in 11th SAG football'

President, Pakistan Football Federation (PFF) on Friday confirmed that the Olympic football competition is to retain its current under-23 status at the XXX Olympiad in London 2012. FIFA had been looking into the idea of changing the system to Under-21 aft
Published 19 Dec, 2009 12:00am
74,000 Africans crossed Gulf of Aden in 2009

74,000 Africans crossed Gulf of Aden in 2009

The UN refugee agency says a record number of Africans fleeing war, droughts and poverty have crossed the Gulf of Aden into Yemen this year. UNHCR says an estimated 74,000 Africans, mainly from Ethiopia and Somalia, have fled to Yemen as refugees or econo
Published 19 Dec, 2009 12:00am
Pentagon plays down security breach with US drones

Pentagon plays down security breach with US drones

A day after the Pentagon acknowledged that Iraqi militants had used cheap software to intercept US drone feeds, a new report Friday said senior military officials had dismissed that risk in 2004. On Thursday, military officials sought to play down securit
Published 19 Dec, 2009 12:00am
Military spending bill clears US Senate hurdle

Military spending bill clears US Senate hurdle

A $636 billion military spending bill that would fund wars in Iraq and Afghanistan cleared a procedural hurdle in the US Senate early on Friday. The 63 to 33 vote opened the way for senators to give the measure final congressional approval on Saturday, as
Published 19 Dec, 2009 12:00am
Nato underestimated problems in Afghanistan: chief

Nato underestimated problems in Afghanistan: chief

Nato Secretary General Anders Fogh Rasmussen admitted that the alliance had failed to grasp fully the dangers and obstacles facing it in Afghanistan, in an interview released Friday. "Perhaps in the past we underestimated the challenges in Afghanistan," R
Published 19 Dec, 2009 12:00am
Russia and US agree outline of nuclear-pact

Russia and US agree outline of nuclear-pact

Negotiators from the United States and Russia have agreed the outline of a new nuclear arms pact, Russia's Interfax news agency quoted an unidentified diplomatic source as saying on Friday. "The provisions of a new START agreement are agreed and there wil
Published 19 Dec, 2009 12:00am
Lebanon ship disaster rescuers find only bodies

Lebanon ship disaster rescuers find only bodies

Rescue teams from three countries and the United Nations stepped up their search on Friday for any survivors from a freighter which sank in stormy seas off Lebanon, but they found only bodies. Nine bodies have now been recovered after the Panamanian-flagg
Published 19 Dec, 2009 12:00am
Khmer Rouge court seeks $93 million

Khmer Rouge court seeks $93 million

The UN-backed court set up in Cambodia to try former Khmer Rouge leaders is seeking donors' approval for a budget of more than 93 million dollars over the next two years, a court statement said Friday. The statement said a budget for 2010 and 2011 had bee
Published 19 Dec, 2009 12:00am
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